Bharat Road Network Ltd. (BRNL) AI Stock Analysis

• Market Cap: ₹1.73B
• Dividend Yield: N/A
• Average Volume (3M): 13.47K
• Price to Earnings (P/E): 1.0
• Beta (1Y): 1.22
• Revenue Growth: -57.13%
• EPS Growth: N/A
• Country: IN
• Employees: 166
• Sector: Services
• Sector Strength: N/A
• Industry: Industrial - Infrastructure Operations
• EPS (TTM): 0.57
• Shares Outstanding: 83,950,000
• 10 Day Avg. Volume: 18,106
• 30 Day Avg. Volume: 13,469
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.79
• Price to Sales (P/S): 0.96
• P/FCF Ratio: 10.63
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 58 Neutral
• Price Target: ₹26.00 ▲(17.97% Upside)

The overall stock score of 58 reflects a mixed outlook for Bharat Road Network Ltd. The company's financial performance is a concern due to high leverage and inconsistent revenue growth. However, technical indicators show positive momentum, and the stock appears undervalued based on its P/E ratio. The absence of earnings call data and corporate events limits further insights.

Positive Factors

Cash Generation Ability

Consistent operating cash flow generation indicates a stable cash base, supporting ongoing operations and potential debt servicing.

Net Profit Margin Improvement

Improved net profit margins suggest better cost management and operational efficiencies, which can enhance long-term profitability.

Stockholders' Equity Improvement

Increased stockholders' equity indicates enhanced financial health, providing a stronger foundation for future growth initiatives.

Negative Factors

High Leverage

High leverage can strain financial resources and limit flexibility, posing risks to long-term financial stability and growth.

Inconsistent Revenue Growth

Fluctuating revenue growth can hinder strategic planning and investment, affecting the company's ability to sustain long-term growth.

Operational Inefficiencies

Operational inefficiencies can lead to higher costs and reduced profitability, impacting the company's competitive position and market performance.

Bharat Road Network Ltd. Business Overview & Revenue Model

Company Description

Bharat Road Network Limited designs, develops, builds, owns, operates, and transfers road and related services in India. It offers financial and concession management, tolling operations and highway management, and financial and project management services; specialized toll plaza construction and integration with the selected TMS services; and corridor and incident management integrated with HTMS services. The company was incorporated in 2006 and is based in Kolkata, India.

How the Company Makes Money

Bharat Road Network Ltd. generates revenue primarily through toll collection from the highways and roads it develops and operates. The company's revenue model is heavily reliant on long-term concession agreements with the government, allowing them to collect tolls over specified periods. Additionally, BRNL may earn income through project execution fees and operational services for maintaining the roads. The company often partners with government bodies and financial institutions to secure funding and support for infrastructure projects, which also aids in enhancing its revenue streams. Factors contributing to its earnings include the growth in vehicular traffic, government initiatives to improve road infrastructure, and efficient management of operational costs.

Bharat Road Network Ltd. Financial Statement Overview

Summary

Bharat Road Network Ltd. faces challenges in achieving stable profitability and maintaining financial health. While there are signs of improvement in net income and free cash flow, high leverage and inconsistent revenue growth pose significant risks. The company's focus should be on improving operational efficiencies and managing debt levels to enhance financial stability and shareholder value.

Income Statement

Bharat Road Network Ltd. has experienced significant volatility in its revenue and profitability metrics over recent years. The net profit margin improved substantially in the latest year, turning positive after a series of losses, indicating a potential turnaround. However, the negative EBIT and fluctuating EBITDA margins reflect operational inefficiencies and cost management challenges. Revenue growth has been inconsistent, with significant declines in recent periods.

Balance Sheet

The company exhibits a high debt-to-equity ratio, indicating significant leverage and potential financial risk. Improvements in stockholders' equity are noteworthy, but the equity ratio remains low, suggesting limited asset backing by equity. Return on equity showed improvement due to positive net income in the latest year, but historical losses have impacted overall financial stability.

Cash Flow

Cash flow metrics show some resilience, with consistent operating cash flow generation over the years. The free cash flow growth rate is positive in the latest year, though it has been unstable historically. The company demonstrates an acceptable operating cash flow to net income ratio, suggesting reasonable cash generation relative to earnings. However, the free cash flow to net income ratio reflects potential variability in cash generation capabilities.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.17B	2.74B	3.80B	3.26B	2.16B	2.10B
Gross Profit	1.32B	1.27B	2.88B	636.95M	1.39B	1.80B
EBITDA	2.41B	2.62B	1.49B	269.31M	-452.03M	822.61M
Net Income	1.67B	1.41B	-1.12B	-2.10B	-3.76B	-1.14B
Balance Sheet
Total Assets	0.00	14.35B	27.34B	27.06B	28.46B	31.43B
Cash, Cash Equivalents and Short-Term Investments	2.23B	2.23B	2.76B	2.22B	609.29M	1.35B
Total Debt	0.00	4.34B	13.28B	14.13B	14.92B	15.39B
Total Liabilities	-4.22B	10.12B	24.48B	23.07B	22.44B	21.51B
Stockholders Equity	4.22B	3.31B	1.90B	3.02B	5.09B	8.86B
Cash Flow
Free Cash Flow	0.00	246.94M	2.60B	2.51B	-63.20M	512.67M
Operating Cash Flow	0.00	768.53M	3.65B	2.59B	219.49M	512.67M
Investing Cash Flow	0.00	-518.32M	-2.08B	807.52M	1.96B	1.68B
Financing Cash Flow	0.00	-620.46M	-2.14B	-2.50B	-2.33B	-1.99B

Bharat Road Network Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 22.04
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BRNL, the sentiment is Negative. The current price of 22.04 is below the 20-day moving average (MA) of 22.29, below the 50-day MA of 23.42, and below the 200-day MA of 23.11, indicating a bearish trend. The MACD of -0.47 indicates Positive momentum. The RSI at 28.75 is Positive, neither overbought nor oversold. The STOCH value of 42.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BRNL.

Bharat Road Network Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INDBANK	71 Outperform	₹1.61B	25.52	―	―	-18.35%	-43.75%
RPPINFRA	60 Neutral	₹4.62B	7.50	―	0.47%	-7.32%	-26.92%
BRNL	58 Neutral	₹1.73B	0.96	―	―	-57.13%	―
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
SADBHAV	44 Neutral	₹1.52B	-0.93	―	―	―	―

Bharat Road Network Ltd. Corporate Events

Bharat Road Network Shuts Trading Window Ahead of December Quarter Results

Bharat Road Network Limited has announced that its trading window for dealing in the company’s securities will be closed for all insiders, including directors, designated persons and their immediate relatives, from 1 January 2026 until 48 hours after the announcement of its unaudited financial results for the quarter and nine months ended 31 December 2025. The move, made in line with the company’s Insider Trading Code and SEBI’s Prohibition of Insider Trading Regulations, is designed to prevent trading on unpublished price-sensitive information and underscores the company’s compliance focus and corporate governance standards, with implications for when key stakeholders may transact in the stock.

Bharat Road Network Resumes Toll Collection at Paliyekkara Plaza

Bharat Road Network Limited announced that the Hon’ble High Court of Kerala has revoked the suspension on the collection of user fees at the Paliyekkara Toll Plaza, effective from October 17, 2025. This decision follows a temporary suspension that was instituted due to a public interest litigation. The revocation allows the company to resume toll collection at the rates that were in effect prior to the suspension, potentially stabilizing revenue streams and reinforcing its operational capabilities in the region.